[su_box title=”Keep in mind…” style=”default”]
- As a veterinarian, you can purchase a health insurance plan through the American Veterinary Medical Foundation
- You can also purchase life insurance and liability insurance through this foundation
- If you do not wish to purchase insurance through the AVMA, you can buy a plan on the Health Insurance Marketplace or through a private provider
- If you work for a large animal hospital or other large employer, they may be required to provide you with health insurance
- If you own your own veterinary practice and have less than 100 employees, you may be eligible to purchase insurance for you and your employees through the Small Business Health Options Program (SHOP)
How do I get health insurance through the American Veterinary Medical Foundation?
As a veterinarian, you have several health insurance options. With the American Veterinary Medical Foundation Life program, you can get a plan that offers life insurance, disability benefits, hospital coverage, and other coverage through the New York Life Insurance Company.
Additionally, typical medical insurance plans are available as well. One benefit of the AVMA Life program is that you can have continuous coverage even if you switch employers. The American Veterinary Medical Foundation also offers pet health insurance, professional and liability insurance.
Find private veterinarian health insurance plans by entering your zip code above and comparing FREE quotes from our extensive list of top providers!
How do I apply for a plan on the Healthcare Exchange Marketplace?
Another option for veterinarians is to purchase a health insurance plan on the Health Insurance Marketplace. In most cases, you have to apply during the open enrollment period which typically occurs between November and January.
Certain life events, such as moving, getting married, or having a baby, may make you eligible for a special enrollment period which allows you to apply for a marketplace plan at other times during the year.
There are five different ways to apply for marketplace coverage. You can apply online, over the phone, by mail, or in person with a marketplace representative or a private insurance broker. After you apply and enroll in a marketplace plan, you will have to send your monthly premium directly to your insurance company.
Your coverage will not start until you pay your first premium.
If I work for a large company, is my employer required to offer me health insurance?
If you work for a large animal hospital or another type of large company, your employer is required to provide you with health insurance. Under the Affordable Care Act employer mandate, any company that has more than 50 full-time equivalent employees must offer medical coverage to their employees. Additionally, your employer must offer coverage to your dependents up until the age of 26.
The employer mandate does not apply to smaller companies with less than 50 employees or to part-time employees. Part-time employees are those who work less than 30 hours a week or less than 130 hours a month.
Employers must also offer coverage that meets the minimum value standards and affordability requirements set forth by the Affordable Care Act.
If your employer does not offer you health insurance when they are required to, they may be responsible for paying a penalty fine. If your employer does not offer health insurance at all, they have to pay a fine of $2,000 for each full-time employee.
If your employer does offer coverage but it does not meet the minimum value or affordability standards, they will have to pay $3000 for each full-time employee receiving marketplace subsidies or $2000 for each full-time employee. They have to pay whichever of the two fines is cheaper.
What is the Small Business Health Options Program(SHOP) exchange?
If you own your own small animal clinic or another type of small veterinarian business, you might be eligible to use the Small Business Health Options Program. If you have less than 100 full-time employees, you should be able to enroll in plans on the SHOP marketplace.
There is no open enrollment period for this exchange; you can shop for coverage for you and your employees at any time of the year.
If you have less than 25 full-time equivalent employees and they all make less than $50,000 a year, you and your employees should qualify for tax credits to assist with the cost of the health benefits. If you have fewer than 10 full-time equivalent employees that make less than $10,000 a year, you should qualify for a tax credit that covers 50 percent of health insurance premium costs.
Medical Insurance for Veterinarians
Veterinarians have several choices for medical coverage depending on their employment circumstances. Those who are self-employed or work less than full time can enroll in a plan through the marketplace or a private insurance broker.
If you are a full-time employee of a large company or hospital, they should offer you coverage. If you own your own small business, you should be able to use the SHOP marketplace to enroll in health plans for you and your employees at a discounted rate.
Compare health insurance quotes for your veterinary practice employees or yourself by entering your zip code below!
[su_spoiler title=”References:” icon=”caret-square” style=”fancy” open=”yes”]